China’s stainless steel prices plunge as stockists try to cash out

China’s domestic stainless steel prices have fallen sharply during the past week due to a mismatch between selling interest and demand.

Metal Bulletin’s assessment of prices for benchmark 304 stainless cold rolled coil was 13,800-14,300 yuan ($2,004-2,077) per tonne including VAT in the major market of Wuxi for the week ended Thursday April 20, down 600-700 yuan ($87-102) per tonne from a week earlier. Product inventory in the market increased gradually over the past several weeks as buyers held...

Published

Jessica Zong

April 21, 2017

06:27 GMT

Shanghai